Amfac Company manufactures a single product. The company keeps careful records of manufacturing activities, from which the following information has been extracted: Level of Activity March June Number of units produced 5,300 9,600 Cost of goods manufactured $254,900 $400,000 Work-in-process inventory, beginning 32,000 24,000 Work-in-process inventory, ending Direct materials cost per unit 53,500 16,500 10 10 12 7 12 7 Direct labour cost per unit Manufacturing overhead cost, total The company's manufacturing overhead cost consists of both variable and fixed cost elements. To have data available for planning. management wants to determine how much of the overhead cost is variable with units produced and how much of it is fixed per month. Required: 1. For both March and June, determine the amount of manufacturing overhead cost added to production. (Hint: A useful way to proceed might be to construct a schedule of cost of goods manufactured.) Manufacturing overhead cost March June 2. By means of the high-low method of cost analysis, estimate a cost formula for manufacturing overhead. Express the variable portion of the formula in terms of a variable rate per unit of product.